GST on real estate
This query is : Resolved
27 November 2020
I have book a flat in gujarat. Its price is 3900000. Will it be under affordable housing scheme or not?
How much GST, I have to Pay?
How much GST, I have to Pay?
Message likes :
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CA Anurag Sharma
(Expert)
01 December 2020
GST @ 1% is required to be paid for affordable housing projects and 5% for other units. Housing units worth upto Rs. 45 lakhs come under affordable housing projects. So, yes you will be required to pay GST @ 1% as cost of your property is Rs. 39 lacs.
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